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Didn't realize that FTX is still unstaking a shit ton of Solana.
Notably, the bankrupt FTX and Alameda group is unloading over $1 billion worth of Solana. Over the past three months, the firm has unstaked 530,000 SOL, valued at approximately $71 million, and redistributed it across multiple addresses.
The transfer activity averages 176,700 SOL per month, valued at $23.5 million, including a recent redemption of 177,693 SOL worth $23.75 million. Despite this substantial release of potential supply, FTX and Alameda still hold 7.06 million SOL, worth $945.7 million, in staked assets.
Notably, the bankrupt FTX and Alameda group is unloading over $1 billion worth of Solana. Over the past three months, the firm has unstaked 530,000 SOL, valued at approximately $71 million, and redistributed it across multiple addresses.
The transfer activity averages 176,700 SOL per month, valued at $23.5 million, including a recent redemption of 177,693 SOL worth $23.75 million. Despite this substantial release of potential supply, FTX and Alameda still hold 7.06 million SOL, worth $945.7 million, in staked assets.
What’s Next For Solana as FTX Unstakes $1B SOL
As Solana approaches a comeback, potentially surpassing $137, a black swan event signals a massive influx of supply, which could lead to a significant crash.
thecryptobasic.com